Most expensive US colleges – why are they expensive?

Most expensive US colleges – why are they expensive?

American college tuition is not only very expensive, but it is getting more expensive as each year passes. The latest research report released by the American College Board shows that in the 2020-2021 academic year, undergraduate tuition fees for American universities have increased when compared with last year, but the increase is the lowest in history in the past 10 years.

According to CBS News published on 10th March 2022, the Biden Administration is collectively working towards helping many students have their tuition fees loans “forgiven”. How do students get their loans “forgiven”? Eligible students are able to request for student loan “forgiveness” in exchange for public service, named Public Service Loan Forgiveness program.

According to historical records, the tuition fees of American universities have basically maintained an annual increase of 3%-4%. However, during COVID-19 outbreak, many universities cannot provide in-class courses, and coupled with the difficulty in recruiting overseas students, many universities have to suspend tuition fees increments.

Most of the expensive American colleges fall under the private institutions category. These colleges are not subsidized by the government, but at the same time, they want to provide the same or better amenities and services than public institutions.

Here are the top 10 most expensive colleges in the United States.

University of Chicago

Tuition fees: $81,531
Admissions Rate: 7.3%
Average GPA: 4.48
Average SAT: 1520
Average ACT: 34
Popular for its economics major, University of Chicago is the most expensive four-year university in the United States.

Northwestern University

Tuition fees: $81,283
Admissions Rate: 9.1%
Average GPA: 4.1
Average SAT: 1495
Average ACT: 34
Popular majors include journalism and communication studies.

University of Pennsylvania

Tuition fees: $81,110
Admissions Rate: 8.4%
Average GPA: 3.9
Average SAT: 1500
Average ACT: 34
UPenn is one of the best colleges for business studies.

Brown University

Tuition fees: $80,448
Admissions Rate: 7.7%
Average GPA: 4.08
Average SAT: 1485
Average ACT: 34
Brown is well-known for its English studies.

Dartmouth College

Tuition fees: $80,184
Admissions Rate: 7.9%
Average GPA: 4.11
Average SAT: 1500
Average ACT: 34

University of Southern California

Tuition fees: $80,151
Admissions Rate: 13%
Average GPA: 3.79
Average SAT: 1440
Average ACT: 32

Amherst College

Tuition fees: $79,600
Admissions Rate: 11.3%
Average GPA: 4.07
Average SAT: 1480
Average ACT: 33

Washington University in St. Louis

Tuition fees: $79,586
Admissions Rate: 15%
Average GPA: 4.15
Average SAT: 1520
Average ACT: 34

Harvey Mudd College

Tuition fees: $79,539
Admissions Rate: 14.5%
Average GPA: 4.17
Average SAT: 1530
Average ACT: 35
About 70% of the students have received financial aid – work-study, loans, grants and scholarships

Yale University

Tuition fees: $79,370
Admissions Rate: 6.1%
Average GPA: 4.14
Average SAT: 1515
Average ACT: 34

As expensive as these colleges are, many students still have the opportunities to be admitted as they are eligible for scholarships and financial aid, which help to cut down the tuition fees significantly. For example, Columbia University offers financial aid based on the family circumstances as long as the student is successfully admitted. Quoted from the official website, Columbia University will “meet the four-year financial needs of all admitted students, regardless of nationality.”

Therefore, students who are interested in expensive colleges and yet do not want the high financial burden, they will benefit from researching about the schools’ financial aid and scholarships requirements. Try applying for them before striking the schools out of your list just because of the price tag. Pursue your passion in your dream university!

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